Frasers Hospitality Trust's Q4 NPI up 2.3% to $30.03m

Thanks to improved portfolio performance.

Frasers Hospitality Trust’s (FHT) net property income rose 2.3% YoY to $30.03m for Q4 2019, according to an announcement. However, income available for distribution (DI) dipped 2.9% YoY to $22.3m as a write-back of tax provision was included for Q4 FY2019. Distribution per stapled security (DPS) also lowered by 4.1% to 1.16 cents.

Gross revenue inched up 2.1% YoY to $39.5m for Q4 fiscal year 2019. A better overall portfolio performance balanced by foreign exchange impact of the weaker Australian dollar and British pound contributed to this growth.

According to CEO Colin Low, all country portfolios except Australia had better YoY performance, due to the challenging trading environment in Sydney and Melbourne.

He added that Singapore in particular recorded higher occupancy levels of above 90%, whilst the UK portfolio benefited from the weaker pound which led to all properties recording healthy gains in revenue per available room (RevPAR). Japan recorded higher room and F&B revenue due to the Rugby World Cup 2019.